Analyst, Bill Shope, said, "We have been concerned that macro weakness would pressure Lexmark’s high-margin supplies sales, but it appears even our below-consensus estimates did not fully capture the headwinds on Lexmark’s installed base."

Shope lowers FY12 revenue estimate from $3.86B to $3.81B, FY13 from $3.69B to $3.59B and FY14 from $3.64B to $3.54B. FY12 EPS estimate was also cut from $3.90 to $3.76, FY13 from $4.04 to $3.52 and FY14 from $4.04 to $3.48.

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